mFoundry Nabs Top Spot for Advanced Technology

SAN FRANCISCO, Nov. 10, 2010 /PRNewswire/ -- mFoundry, the award-winning provider of secure mobile financial solutions, today announced it has received Celent's prestigious XCelent Award for Advanced Technology 2010 in the research firm's latest Mobile Retail Banking Vendor Report.

mFoundry was among 14 companies selected for review by Celent analysts for their latest Mobile Banking Vendor Survey. As part of the evaluation process, Celent looked for the live availability of over 100 feature functionalities. The report helps financial institutions make sense of the mobile banking vendor landscape by providing a glance at the relative positions of each vendor across four dimensions: Advanced Technology, Breadth of Functionality, Customer Base, and Depth of Client Services.

"mFoundry had a couple of differentiating features that were enough to push mFoundry to the front of the pack," commented Red Gillen, Senior Analyst at Celent. "For example, mFoundry is the only vendor that has a live contactless payment program implemented in North America. As many banks are looking ahead to the day when mobile phones will be used in conjunction with promotions and contactless payments, Celent felt that mFoundry's capabilities and its success with Starbucks were significant."

"mFoundry also offers an enhanced level of reporting and analytics," continued Gillen. "The rich user interface on the mFoundry dashboard and data graphics is something that is suitable for both large and small financial institutions alike."

With over 240 customers in North America, mFoundry's technology and growth continues to outpace the industry. Of the 14 companies profiled in the report, mFoundry exhibited the largest year over year growth in new client signings, with over 300% increase from 2009.

"Recognition from a firm like Celent that is known within the industry for its objectivity and analytic rigor is quite an honor," said mFoundry CEO and Co-Founder Drew Sievers. "For the past 24 months, we have worked diligently to deliver a highly scalable, advanced platform that can keep pace with the torrid growth in the mobile banking industry. The result is an industry-leading solution that can be brought to market in the quickest time possible. As the market expands into the next phase of payments, we will continue to invest in providing our clients and partners with the highest quality mobile solutions available."

For more information about the mFoundry Mobile Banking Platform please visit www.mfoundry.com or contact [email protected]. To learn more about Celent's Mobile Banking Vendor report, please visit www.celent.com/124_3294.htm.

About mFoundry
mFoundry (www.mfoundry.com) is the leading provider of secure mobile financial services to banks, credit unions, merchants and processors. Providing mobile banking technology to FIS Global (including Metavante, Fidelity National Information Systems, and eFunds), First Data Corporation, NCR, the CO-OP Financial Services, and PSCU Financial Services, our award winning product is used by more than 200 banks and credit unions in the USA.

mFoundry is the only mobile banking provider with a live, nationwide mobile payments solution. As the technical force behind Starbucks Card Mobile, mFoundry leverages its payments knowledge to help financial institutions, payment processors, and merchants create deeper, more valuable customer relationships.

mFoundry is based in the San Francisco Bay Area and has been recognized as one of "10 Emerging Wireless Players to Watch" by IDC as well as the top "Tech Company to Watch" and a three-time top "Innovator" by Bank Technology News.  

SOURCE mFoundry